H1 2023: During H1 2023, the prominent players in the global Biodiesel market were Wilmar Bioenergi Indonesia, Diester Industrie, Ineos, and Cargil. In January 2023, a new biofuel terminal in California that can transload renewable diesel (biodiesel and ethanol blended biofuel) was announced by USD Clean Fuels LLC (USDCF). California will effectively receive clean fuels from the Midwest and US Gulf Coast thanks to BNSF Railway, one of the largest freight carriers in the country, which will also provide terminal service, and is likely to be operational by 2024. In June 2023, Kaua‘i Island Utility Cooperative (KIUC) received its very first shipment of biodiesel from Pacific Biodiesel Technologies. According to the agreement, KIUC would receive biodiesel from Pacific Biodiesel Technologies, the owner and operator of the biodiesel refinery on Hawai'i Island, to utilize as a partial fuel source for its 27.5-megawatt Kapaia Power Generation Station. In June 2023, Bunge proposed acquisition of Viterra. With the planned acquisition of Viterra by Bunge, the company would be better positioned to compete in the renewable diesel market and maintain its position as the largest oilseed crusher in the world. Bunge's crushing capacity will increase by roughly 33% as a result of the acquisition, resulting in an increase in annual production of 75 million metric tonnes from units in Canada, Europe, and Argentina. In June 2023, Aemetis Inc., a producer of renewable natural gas and fuels, revealed that biodiesel shipments from Universal Biofuels subsidiary in India to the three state-owned Oil Marketing Company (OMC) customers with USD 27 million (80% of the USD 34 million) in the second quarter of 2023 contracted deliveries being completed. About 8 million gallons of biodiesel, worth USD 34 million, was ordered in the beginning of May 2023 by the Indian customers.
H1 2022: During H1 2022, the total production of Biodiesel had reached approximately 24 million tonnes. The major players in the global Biodiesel market were Diester Industrie, Wilmar Bioenergi Indonesia, and Ineos. However, Diester Industrie was the biggest producer of Biodiesel globally in H1 2022. In May 2022, Argent Energy, one of the key biodiesel manufacturers in UK announced about adding capacity to their biodiesel production facility at Netherlands and total production capacity will reach to 540 thousand tonnes. The company’s decision of expanding the production capacity was a step towards innovative and sustainable development and make use of efficient processes to reduce greenhouse gas emissions. Based on region, North America acquired the position of the largest consumer of Biodiesel during H1 2022. The Biodiesel prices rose near the end of March 2022. Supply shortages had hampered biodiesel production rates in the US market as major feed producing countries faced a palm oil crisis in their regional markets. Disrupted trade routes had affected the biodiesel prices. Additionally, sunflower oil prices were skyrocketed in the North American market, which proportionally increased the cost of biodiesel production during this period. In May 2022, a food crisis occurred in the market and inflation happened. To overcome the food crisis, biodiesel production was temporarily halted in North America leading to a price decline of the product.
H2 2022: During H2 2022, the total production of Biodiesel had reached approximately 26 million tonnes. Throughout H2 2022, the prices of Biodiesel across North America fluctuated. The cost of raw materials like palm oil fell in July and August 2022 as demand from biodiesel production remained weak, impacting domestic biodiesel prices. Biodiesel prices saw a downward trend in the market due to volatile demand by the end-user industries. However, in September 2022, the price of commodity palm oil imports from major producers like Indonesia and Malaysia, was weak which correspondingly affected the production costs. In addition, the demand for biodiesel from the transport sector was weak and the inventory was less. As a ripple effect, the price of biodiesel fell in the North American market. In October 2022, biodiesel production decreased in the US market as there was sufficient inventory available in the domestic market to meet the demand of the consumers. By the end of December 2022, the biodiesel supply chain had to deal with disruptions caused by natural disaster (Hurricane Elliot) in several areas of North America. In the last three months of H2 2022, the biodiesel production cost had increased proportionally as energy costs were high in Europe. Biodiesel imports were lowered by the German government to focus on food services.
The global Biodiesel market has expanded to reach approximately 50 million tonnes in 2022 and is expected to grow at a CAGR of 3.87% during the forecast period until 2032. Biodiesel is a type of fuel made from bio-based resources such as vegetable oil and animal fat. It is renewable in nature with a lesser carbon footprint. It can be used in existing diesel engines in vehicles without any modification.
Biodiesel is produced via transesterification whereby the glycerin is separated from animal fat or vegetable oil, leaving behind methyl esters and glycerin. Its major application areas are fuel and power generation. Lesser greenhouse gas emissions associated with biodiesel and its biodegradable nature combined with the growing need to replace fossil fuel with renewable fuel are projected to drive the demand for biodiesel for the forecast period. Moreover, the compatibility of biodiesel with the existing diesel engines is another factor prop demand growth for biodiesel during the forecast period. Increasing population and the subsequent growth in the number of vehicles and other industries using biodiesel is also expected to support demand rise for biodiesel. The global Biodiesel market is anticipated to reach 70 million tonnes by 2032.
By demand, North America dominates the global with most of the demand is come from USA. In 2022, approximately 40% of the global demand was accounted by North America. It is mainly driven by the use of renewable energy derived from agricultural and forestry areas across U.S. Biofuel holds a significant portion of the fuel used in the U.S. transportation industry. This region is anticipated to display similar consumption share in the forecast period owing to rapidly expanding automotive sector. Moreover, in the APAC region due to the expansion of the automotive and energy industries, which are the main consumers of eco-friendly fuel, biodiesel demand is anticipated to increase in the forecast period. Currently, U.S. holds the largest production capacity of Biodiesel.
Based on the end-use, the global Biodiesel market is segregated into Fuel, Power Generation, and Others. The Fuel sector is dominating the Biodiesel market. In 2022, this sector consumed roughly 80% of the global Biodiesel market and is anticipated its position in the forthcoming years. The demand of clean and green fuel is anticipated to swell up the demand of Biodiesel in the forecast period.
Major players in the production of Global Biodiesel are Infinita Renovables Castellón, Diester Industrie, Ineos, VERBIO's, PT Wilmar Bioenergi Indonesia, Argent Energy, Bio Oils Huelva, Harvest Energy, Iniciativas Bioenergéticas (Calahorra), Greenergy’s, PT Musim Mas, Simadan subsidiary Biodiesel, Petrotec AG, Ennovor Biofuels, PT Kutai Refinery Nusantara, and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2022
Estimated Year: 2023
Forecast Period: 2024-2032
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Objective of the Study:
• To assess the demand-supply scenario of Biodiesel which covers production, demand and supply of Biodiesel market in the globe.
• To analyse and forecast the market size of Biodiesel
• To classify and forecast Global Biodiesel market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Biodiesel market in the globe.
To extract data for Global Biodiesel market, primary research surveys were conducted with Biodiesel manufacturers, suppliers, distributors, wholesalers and Traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Biodiesel market over the coming years.
ChemAnalyst calculated Biodiesel demand in the globe by analyzing the historical data and demand forecast which was carried out considering the historical extraction and supply and demand of Biodiesel across the globe. ChemAnalyst sourced these values from industry experts, and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Biodiesel manufacturers and other stakeholders
• Organizations, forums and alliances related to Biodiesel distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Biodiesel manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Biodiesel market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2022
50 million tonnes
Market size Volume by 2032
70 million tonnes
Growth Rate
CAGR of 3.87% from 2023 to 2032
Base year for estimation
2023
Historic Data
2015 – 2022
Forecast period
2024 – 2032
Quantitative units
Demand in million tonnes and CAGR from 2023 to 2032
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Foreign Trade, Manufacturing Process, Policy and Regulatory Landscape,
Segments covered
By End-Use: (Fuel, Power Generation, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Mr.Shin Dosho
Member - Board of Directors
Osaka Gas Co. Ltd
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What was the global market size of Biodiesel in terms of volume in 2022?
Ans:
The global market size of Biodiesel was approximately 50 million tonnes in 2022.
Q2.
Which end-use industry is dominating the Global Biodiesel market?
Ans:
The Fuel industry is dominating the global Biodiesel market and accounted a market share of 80% in 2022.
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